BAKU, Azerbaijan, August 5. Nonbank financial companies (NBFCs) in Azerbaijan are now technically able to issue loans online, AzInTelecom operating under the Ministry of Digital Development and Transport of Azerbaijan told Trend.
According to AzInTelecom, online loan processing has become possible because of SIMA - the digital signature platform based on cloud technologies (developed as part of a public-private partnership with Svort Technologies and Sinam LLC).
"Loan funds in the amount of up to 15,000 manat ($8,000) can be transferred to a bank card or account, and the loan amount exceeding 15,000 manat ($8,000) can only be transferred to a bank account. At the same time, the entire loan processing procedure can be carried out online," AzInTelecom explained.